Binance, the world’s largest cryptocurrency exchange by daily volume, announced on June 8 that it has reached 200 million global users. This milestone sets Binance apart from other exchanges, though the figures are self-reported.
To celebrate, Binance highlighted the achievement across its social media platforms, presenting the 200 million user mark as a significant step toward its goal of onboarding a billion users, or one in every eight people on Earth.
In a post on X, Binance stated:
“Today, we celebrate 200 million – and it’s all because of YOU! Your support is the heartbeat of our journey to 1 billion users. Here’s to the stars of our story – you!”
As recently as 2022, Binance had about 130 million users. In 2023, the exchange added 40 million users, bringing its total to 170 million. Just six months into 2024, Binance has added at least 30 million more, putting it on pace to reach 300 million users by 2026, assuming the current growth trend continues.
The global cryptocurrency user base reached 562 million people in 2024, up 142 million from 2023’s 420 million users, according to research from Triple-A. This means Binance users account for approximately 36% of the global cryptocurrency user base.
Binance’s 200 million user milestone follows another industry record for the company. In March, Binance reached a total of $100 billion in user assets under custody, averaging about $500 worth of assets per user.
Despite recent legal challenges, including founder and former CEO Changpeng “CZ” Zhao serving a four-month sentence on fraud charges, Binance appears to have emerged relatively unscathed. CZ is reportedly apologetic for his actions and is currently serving his time in a minimum-security facility in California.
